A new deal between the nation's best credit counselors and the biggest credit card companies will help more borrowers repay their debts.

The card companies have agreed to accept smaller payments over a longer period of time when members of the National Foundation for Credit Counseling negotiate repayment plans on behalf of struggling cardholders.

When borrowers who've fallen behind on their payments seek help, counselors often work out what's called a debt management plan with their credit card companies.

The companies usually agree to forgive about half of the debt if the customer will repay the rest in monthly payments that cover about 3% of the new balance.

But in 2008, the NFCC found it couldn't help 400,000 clients because they owed so much on their cards that it couldn't negotiate a debt management plan they could afford.

That made bankruptcy the only way out for many of those borrowers.

To fix that, the NFCC worked out two new debt repayment plans designed to help maxed-out consumers reach a deal with the 10 largest credit card issuers: American Express, Bank of America, Capital One, JPMorgan Chase, Citigroup, Discover Financial Services, GE Money, HSBC, U.S. Bank and Wells Fargo.

They will allow cardholders to stretch the payments out longer, so they can repay only 2% or 1.75% of the renegotiated debt each month.

Now a consumer who agrees to repay $24,000 through a debt management plan could qualify for monthly payments as low as $420 instead of $720.

Of course, the credit card companies have the right to review a customer's finances and determine how quickly they can afford to repay their balance and who will be allowed to take advantage of the new, lower payments.

But if the card companies are reasonable, this should allow the NFCC to help more families get out of debt.

It's critical that you use a local credit counseling agency that belongs to the NFCC. They charge the lowest possible fees and abide by a set of professional and ethical standards that are the best in the business.

Here's where to find an NFCC member agency in your area.